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Econo-Cool Air Conditioners cost $350 to purchase and results in an electricity bill of $160 per year. The Econo-Cool Air Conditioners lasts for 4 years.

Econo-Cool Air Conditioners cost $350 to purchase and results in an electricity bill of $160 per year. The Econo-Cool Air Conditioners lasts for 4 years. The discount rate is 17%. What is the equivalent annual cost?

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